Saturday, January 14, 2012

GROUP LIFE INSURANCE and EMPLOYER missed payments?!!?

What happens if your working at a company that offers life insurance (2x salary) and the employer misses a payment for the insurance? Will my group life insurance be terminated? Will i get a note from the life insurance company that the employer has missed the payments? On my company's site there is daily coverage of the benefits i currently have including life insurance which clearly states that there is no cost to me acquiring the group term life. Can i trust the company site or will they change the life insurance status after i die so they don't have to pay my beneficiaries? Also, can i tell if i have group life insurance from my employer through paying taxes every year?

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